Australian women working in the finance sector are frequently 'subjected to sex discrimination' and '1950s attitudes' according to a new study, which found females are often denied promotions because of their gender.

A study undertaken by NSW's University of New England (UNE) has heard shocking statements from senior males in firms across the state, particularly in rural firms, 'wouldn't have been out of place in an episode of Mad Men', according to a published essay by the researchers.

'Women are too emotional and their communication is rather soft when dealing with clients,' a senior male from a rural firm said while being interviewed for the study.

'Certain types of clients in the business need to be tackled with more power, control and tactics… that are not possessed or simply cannot be demonstrated by women,' he continued.

Australian women working in the finance sector are subjected to sex discrimination and '1950s attitudes' according to a new study, which found females are often denied promotions because of their gender

The study heard shocking statements from senior males in firms across the state, particularly in rural firms, which the researchers say 'wouldn't have been out of place in an episode of Mad Men'

The researchers say they found statements that were so sexist they demonstrated 1950s attitudes

It comes after statistics found the financial sector to have the highest gender pay discrepancy, according to data released this month by the Workplace Gender Equality Agency.

Women working in finance earn a massive 30 per cent less than their male counterparts on average. Other industries as a whole have a much less drastic 17.3 per cent average pay gap.

The UNE study found a woman's family commitments are the largest obstacle to their career progression due to employers perceiving female staff as being less flexible and focused as they juggle work and home life, according to Fairfax media.

However Fairfax claims research has also determined that although female accounting and finance students typically perform better than men at university, they are likely to be paid less than men in their junior roles.

UNE Business School researchers Dr Sujana Adapa, Professor Alison Sheridan and Dr Jennifer Rindfleish completed the study by interviewing employers in the finance sector in both metropolitan and rural areas.

'Women are too emotional and their communication is rather soft when dealing with clients,' a senior male in a rural firm said while being interviewed for the study (unrelated stock photo above)

The study found a woman's family commitments are the most major obstacle to their career progression due to employers perceiving female staff as being less flexible and focused

The researchers have compared the findings from their study to comments in TV series Mad Men, which depicts sex discrimination and misogynistic behaviour in an ad agency in 1960s New York

Dr Adapa believes that although it is the 21st century the study has found 'nothing much has changed' at many of these firms, Fairfax reports.

During the study one man explained that women 'lack the talent of multi-tasking' due to either family or career 'conflicts and pressures', while another male senior saw it fit to pay female employees less because they are unable to network outside of business hours due to family obligations.

'Our female employees have children and family commitments after the normal working hours,' the interviewee is recorded as saying said.

'Only our male employees are available to engage in these networking activities and they have to be paid more in the form of incentives for their efforts,' the employer said according to the study.

The researchers made a recommendation in 2015 that major corporations, particularly in the finance sector, put more women on the corporate board; preempting that a knock-on effect will result in better conditions and work progression for women in both metropolitan and rural SMEs.

During the study male senior said he saw it fit to pay female employees less because they are unable to network outside of business hours due to family obligations

Dr Adapa believes that although it is the 21st century the study has found 'nothing much has changed' at many of these firms